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Das (Wasted) Kapital : Firm Ownership and Investment Efficiency in China

Dollar, David - 2007

Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China … regions and sectors. By our calculation, if China succeeds in allocating its capital more efficiently, it could reduce its …

Persistent link: https://www.econbiz.de/10012776945

Cyclicality of Credit Supply : Firm Level Evidence

Becker, Bo - 2011

Theory predicts that there is a close link between bank credit supply and the evolution of the business cycle. Yet fluctuations in bank-loan supply have been hard to quantify in the time-series. While loan issuance falls in recessions, it is not clear if this is due to demand or supply. We...

Persistent link: https://www.econbiz.de/10013120314

Bank Ties and Bond Market Access : Evidence on Investment-Cash Flow Sensitivity in Japan

McGuire, Patrick M. - 2003

The banking literature has established that banks can alleviate information asymmetries between lenders and borrowers, while the Q literature has used cash flow sensitivity analysis to test whether financing constraints hinder investment. This paper investigates whether bank ties in Japan were...

Persistent link: https://www.econbiz.de/10012786618

Ownership Form and Trapped Capital in the Hospital Industry

Hansmann, Henry B.; Kessler, Daniel P.; McClellan, Mark B. - 2022

Over the past 20 years, demand for acute care hospital services has declined more rapidly than has hospital capacity. This paper investigates the extent to which the preponderance of the nonprofit form in this industry might account for this phenomenon. We test whether rates of exit from the...

Persistent link: https://www.econbiz.de/10014115028

The Effects of Hospital Ownership on Medical Productivity

Kessler, Daniel P.; McClellan, Mark B. - 2021

To develop new evidence on the effects of hospital ownership and other aspects of hospital market composition on health care productivity, we analyze longitudinal data on the medical expenditures and health outcomes of the vast majority of nonrural elderly Medicare beneficiaries hospitalized for...

Persistent link: https://www.econbiz.de/10013230582

Who Owns the Media?

Djankov, Simeon; McLiesh, Caralee; Nenova, Tatiana; … - 2021

We examine the patterns of media ownership in 97 countries around the world. We find that almost universally the largest media firms are owned by the government or by private families. Government ownership is more pervasive in broadcasting than in the printed media. Government ownership of the...

Persistent link: https://www.econbiz.de/10013245701

Corporate Foreign Bond Issuance and Interfirm Loans in China

Huang, Yi - 2018

This paper uses firm-level data to document and analyze international bond issuance by Chinese non-financial corporations and the use of the proceeds of issuance. We find that dollar issuance is positively correlated with the differential between domestic and foreign interest rates. This...

Persistent link: https://www.econbiz.de/10012921527

Issuance Overpricing of China's Corporate Debt Securities

Ding, Yi; Xiong, Wei; Zhang, Jinfan - 2022

We document issuance overpricing of corporate debt securities in China, which contrasts with underpricing of equity and … debt securities in Western countries. The phenomenon in China is robust across subsamples of issuances with different … process in China’s market for corporate debt securities. The average overpricing dropped from 7.44 basis points to 2.41 basis …

Persistent link: https://www.econbiz.de/10013324538

Pledgeability and Asset Prices : Evidence from the Chinese Corporate Bond Markets

Chen, Hui - 2019

in China.Institutional subscribers to the NBER working paper series, and residents of developing countries may download …

Persistent link: https://www.econbiz.de/10012858401

Dynamic Labor Demand in China : Public and Private Objectives

Cooper, Russell W. - 2010

This paper studies dynamic labor demand by private and public manufacturing plants in China. It contributes along two …

Persistent link: https://www.econbiz.de/10013136558